Renaissance Technologies LLC Has $70.95 Million Position in IAMGOLD Co. (NYSE:IAG)

Renaissance Technologies LLC trimmed its position in IAMGOLD Co. (NYSE:IAG) (TSE:IMG) by 4.2% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 13,749,400 shares of the mining company’s stock after selling 601,296 shares during the period. Renaissance Technologies LLC owned 2.41% of IAMGOLD worth $70,947,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Invesco Ltd. grew its holdings in IAMGOLD by 41.6% during the 4th quarter. Invesco Ltd. now owns 7,139,935 shares of the mining company’s stock worth $36,842,000 after acquiring an additional 2,098,215 shares during the period. Cerity Partners LLC bought a new position in shares of IAMGOLD in the fourth quarter worth $303,000. Russell Investments Group Ltd. increased its stake in IAMGOLD by 153.1% in the fourth quarter. Russell Investments Group Ltd. now owns 562,937 shares of the mining company’s stock valued at $2,906,000 after acquiring an additional 340,535 shares during the last quarter. Donald Smith & CO. Inc. boosted its position in IAMGOLD by 0.7% during the fourth quarter. Donald Smith & CO. Inc. now owns 31,233,874 shares of the mining company’s stock valued at $161,167,000 after buying an additional 216,751 shares during the period. Finally, Trexquant Investment LP purchased a new stake in shares of IAMGOLD during the fourth quarter worth about $5,968,000. 47.08% of the stock is currently owned by institutional investors.

IAMGOLD Price Performance

IAMGOLD stock opened at $6.51 on Thursday. IAMGOLD Co. has a 12-month low of $3.44 and a 12-month high of $6.69. The stock has a market capitalization of $3.72 billion, a P/E ratio of 4.49 and a beta of 1.52. The firm’s 50-day moving average is $6.04 and its two-hundred day moving average is $5.64. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.89 and a quick ratio of 0.61.

IAMGOLD (NYSE:IAG) (TSE:IMG) last posted its quarterly earnings data on Thursday, February 20th. The mining company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.05). The firm had revenue of $469.90 million for the quarter, compared to analysts’ expectations of $498.68 million. IAMGOLD had a net margin of 50.19% and a return on equity of 10.64%. Equities analysts predict that IAMGOLD Co. will post 0.67 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on IAG. Raymond James reaffirmed a “market perform” rating and set a $8.00 target price on shares of IAMGOLD in a research note on Friday, April 4th. CIBC reiterated an “outperform” rating on shares of IAMGOLD in a report on Thursday, March 20th. National Bank Financial upgraded shares of IAMGOLD to a “strong-buy” rating in a report on Friday, March 21st. Finally, StockNews.com cut shares of IAMGOLD from a “buy” rating to a “hold” rating in a research report on Thursday, February 27th. Four analysts have rated the stock with a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, IAMGOLD has a consensus rating of “Moderate Buy” and a consensus price target of $7.23.

IAMGOLD Company Profile

IAMGOLD Corporation, through its subsidiaries, operates as an intermediate gold producer and developer in Canada and Burkina Faso. It owns 100% interest in the Westwood project that covers an area of 1,925 hectare and located in Quebec; a 60% interest in the Côté gold project, which covers an area of 596 square kilometer located in Ontario, Canada; and a 90% interests in the Essakane project that covers an area of 274,000 square kilometer situated in Burkina Faso.